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January 24, 2005

Budget, Debt, and Deficits
Hubbard is in pole position: the Sunday New York Time buried the lede

Apparently the Federal Reserve is beginning to worry that the Administration is not all that serious about reducing the fiscal deficit ... Wonder why. It seems like Martin Feldstein’s concerns abou…

March 25, 2005

Economics
Trans-Pacific Real Estate Bubbles

If you think that speculation on real estate has replaced the stock market as the US national pastime, try visiting China.I expected Beijing to be one large construction sites, and was not disappoint…

May 28, 2005

A prediction: China will eventually protect its agricultural sector

You know, the global norm is not free trade in agriculture ... If China doesn’t want its peasants to compete against subsidized US and European agricultural exports, I suspect that it has a range of …

January 28, 2006

China
Another great irony of history: The Chinese Communist party is a very profitable real estate company

Max Sawicky noted that key source of recent job creation in the capitalist United States has been the US government, which itself is financed, in no small part by the People's Bank of China.  The ex-…

February 8, 2006

Monetary Policy
The central bank (and oil fund) bid

I am constantly amazed by the concern well paid Wall Street economists display for poor Chinese peasants.    China, you see, cannot revalue the RMB without devastating rural China.  A revalued RMB wo…